Shareholders

Marcellus Gives Big Boost to EQT Earnings

EQT Corp. CEO David Porges said the company was “off to a good start” in 2011, but he conceded that more work needed to be done to satisfy shareholders and to meet its strategic challenges.

May 2, 2011

Marcellus Gives Big Boost to EQT 1Q Earnings

EQT Corp. CEO David Porges said the company was “off to a good start” in 2011, but he conceded that more work needed to be done to satisfy shareholders and to meet its strategic challenges.

May 2, 2011

Range Resources Taking Bite Out of Marcellus Layer Cake

Some producers wouldn’t have sold their Barnett Shale assets and instead would have flat-lined activities there while they headed for the greener pastures of the Appalachian Basin’s Marcellus Shale, Range Resources Corp. CEO John Pinkerton conceded. But Range wanted to straighten its balance sheet and go at the Marcellus full bore, which its recent Barnett asset sale sets it up to do.

March 7, 2011

CNOOC Buys into Chesapeake’s DJ, Powder River Basins

Chesapeake Energy Corp. shareholders last week gave a thumb’s up to CEO Aubrey McClendon’s latest joint shale exploration agreement with CNOOC Ltd. (China National Offshore Oil Corp.), and the Chinese producer, like other foreign investors, appears to have found a successful way to invest in U.S. energy with a minimum of federal oversight.

February 7, 2011

Chesapeake’s Second CNOOC Deal Called a Win for Companies, Countries

Chesapeake Energy Corp. shareholders gave a thumb’s up to CEO Aubrey McClendon’s latest joint shale exploration agreement with CNOOC Ltd. (China National Offshore Oil Corp.), and the Chinese producer, like other foreign investors, appears to have found a way to invest in U.S. energy with a minimum of federal oversight.

February 3, 2011

Industry Brief

Apache Corp. has completed its $2.7 billion merger with Mariner Energy Inc. after 79% of Mariner shareholders approved the deal. In completing the transaction, Apache issued around 17.5 million shares of its common stock and paid $800 million in cash to Mariner stockholders (see Daily GPI, April 16). Apache also assumed Mariner’s debt with current fair value of about $1.6 billion. Former Mariner stockholders now own about 5% of Apache’s outstanding shares of common stock. The Mariner transaction, combined with its $1.05 billion purchase of Devon Energy Corp.’s Gulf of Mexico assets (see Daily GPI, April 13), as well as its subsequent $7 billion acquisition of BP plc upstream assets (see Daily GPI, July 21), “will provide Apache with a rich inventory of growth and value-enhancement opportunities for years to come,” said CEO G. Steven Farris. “The Mariner merger also adds a new dimension to our portfolio — deepwater oil exploration.”

November 11, 2010

Talks Begin in Bid for Quicksilver

Fort Worth, TX-based Quicksilver Resources Inc. has entered into a confidentiality agreement with a group of investors that includes Quicksilver CEO Glenn Darden, Chairman Thomas Darden and the Darden family-controlled Quicksilver Energy LP. The group may seek to take Quicksilver private.

October 26, 2010

Anadarko: No Pause in Drilling Plans

Anadarko Petroleum Corp. is assisting in the industry-wide effort to contain the massive oil spill in the Gulf of Mexico (GOM), with an eye on protecting the company and its shareholders, CEO Jim Hackett said last week.

May 10, 2010

Anadarko: Drilling Plans Remain on Track

Anadarko Petroleum Corp. is assisting in the industry-wide effort to contain the massive oil spill in the Gulf of Mexico (GOM), all with an eye on protecting the company and its shareholders, CEO Jim Hackett said Tuesday.

May 5, 2010

Exelon-NRG Saga Could End Tuesday

If NRG Energy Inc. shareholders don’t elect the nine new directors proposed by Exelon Corp. at their annual meeting Tuesday, the company will abandon its attempt to acquire NRG, Exelon said last week.

July 20, 2009